Mammoth Provides Update on Exploration Activities at Its Tenoriba Gold Property, Announces Partner Centerra Gold Ceasing Exploration Activities in Mexico

Mammoth

Toronto, Ontario–(Newsfile Corp. – September 22, 2020) – Mammoth Resources Corp. (TSXV: MTH), (the “Company”, or “Mammoth”) announces that it has received notification from Minera Centerra S.A. de C.V., the subsidiary company of Centerra Gold Inc. (collectively “Centerra”), with which Mammoth signed an option agreement to explore Mammoth’s 100% owned Tenoriba gold-silver exploration project located in southwestern Chihuahua State, Mexico, that Centerra has made the decision to cease exploration activities in Mexico, including at Tenoriba. In a conference call wherein
Mammoth was informed of Centerra’s decision to cease exploration activities, Centerra expressed their enthusiasm for drilling the Tenoriba project. Furthermore, in the notice letter to Mammoth advising of this decision Centerra noted that the decision to cease exploration was “no reflection upon any of the exploration properties it was involved in, including the Tenoriba property”. In mid-August Centerra filed
an application for permission to drill up to 139 drill locations at Tenoriba and a response/approval of this permit application is expected within weeks. Under the terms of the Agreement between Mammoth and Centerra there will be a 60-day period from notice to termination of the Agreement.

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